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NEWARK, N.J. – Cabral Simpson, a 46-year-old man from Orange, New Jersey, pleaded guilty to conspiring to commit wire fraud.
U.S. Attorney Philip R. Sellinger announced the plea, which was made before U.S. District Judge Kevin McNulty. Simpson, a real estate investor, and his co-conspirators engaged in mortgage fraud by creating fake bank statements and other fraudulent documents.
They induced lenders to issue more than $1 million in loans, resulting in defaults and significant losses.
Sentencing is scheduled for January 10, 2024.
The U.S. Department of Housing and Urban Development – Office of the Inspector General led the investigation.
